SM Company was established on April 3, 2021 with a total capital of VND 100 million, and started calling for capital from sponsors to import goods and start business. Since the company was newly established, the owner wnetto raise capital, advertise and go to places that attract customers to promote products. After that, the company called for 700 million VND from Amandine company and the total amount SM Company had to establish the company was 800 million VND. (1)

SM company planned in advance to rent a house located in Pho Hue, Hanoi for 20 million per month and booked for 1 year, so the price was reduced to 200 million within 1 year and paid. for home owners. (2)

On April 6, the company started decorating and building new furniture and essential equipment needed to preserve goods such as refrigerators and freezers with a total value of 65 million VND according to Credit Terms 1/2, n/60. (3)

On April 7th, the company hires house cleaning and cleaning services for 500,000 VND. (4)

The company started importing goods for the first time with the price of 10 million VND on April 8. (5)

The company decided to prepay the active employees for their hard work in the amount of VND 8 million on April 9 in cash. (6)

On April 10, to prepare for the opening day, the company hired an advertising agency to campaign for the opening program for 2,000,000vnd in cash and posted on social networking sites and set up a page. on Facebook to reach more people to the company. (7)

On April 11 and also the first day the company opened and traded goods, the company sold 5 million VND of goods and collected 35 million VND. (8)

Because the number of customers is too large and the company's staff is too small, the company recruited more staff on April 12 and paid VND 5,000,000 in advance to be able to take advantage of more resources and sell more goods. (9)

 Due to good sales, on April 13, according to Credit Terms 1/2, n / 30 companies imported food from Food Company for VND 50,000,000. The company's shipping cost is 500,000 VND in cash. (10)

Due to some damaged and rotten goods, SM company returned the goods to the place of import. Goods were priced at VND35,000,000 on April 14. (11)

The company registered an online store on Grab and Now apps to reach more customers as well as meet a large number of goods that need to be delivered to customers, after many days of selling the company has earned revenue. collected VND 50,000,000, it is known that the inventory is valued at VND 40,000,000 on April 15. (12)

SM company must pay 1,500,000 VND for water, 700,000 VND for mobile phone on April 16. (13)

Because want to push the advertising network more, also help the business develop more, the company invested 30,000,000 VND in cash to hire a group of marketing consultants. (14)

The company imported 80,000,000 more food goods and fresh ingredients to be able to continue business and meet customer demand on April 18. (15)

 

Questions:

1. Prepare Income statement.

2. Prepare Balance sheet.

3. Prepare Cash flow.

Answer rating: 100% (QA)

Answer 1 Income statement Revenue Selling goods 5000000 VND Collecting 35000000 VND Total revenue 40000000 VND Expenses Rent 200000000 VND Housekeepin... View the full answer